Friday, September 26, 2008

Nine Dems oppose foreign bank bailout

Dan Reilly passes this along:

Nine Democratic Senators have thrown a possible wrench into the consensus bill -- a request for a ban on bailing out foreign banks.

Dianne Feinstein, Amy Klobuchar, Jim Webb, Ken Salazar, Bill Nelson, Ben Nelson, Barbara Boxer, Blanche Lincoln and Tom Harkin sent Majority Leader Harry Reid a polite but firm five-point letter. It also calls for "clearly specified" limits on exec comp -- which may be hard to get.

"The provisions include: (1) a new regulatory structure to protect our financial system against further instability; (2) releasing of funds to the Treasury in installments to ensure proper implementation and accountability; (3) a clearly specified limit on executive compensation in rescued companies; (4) ensuring that taxpayers are protected against loss and share in any possible gains; and (5) a restriction on financial assistance to foreign banks and institutions."

....and we have this to pass along: We are telling you now that we will not participate in a scheme that does not demand accountability of everyone who has, in some way, contributed to this cataclysm. Got that!! No more! (I.U.)

(In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. I.U. has no affiliation whatsoever with the originator of this article nor is I.U endorsed or sponsored by the originator.)

The Nazis, Fascists and Communists were political parties before they became enemies of liberty and mass murderers.

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